Morristown Power System deposit bonds.
From $100. Enter your amount.
Instead of tying up cash as a security deposit with Morristown Power System, an applicant for electric service in the City of Morristown can post a surety bond for the same figure. Morristown Power sets the deposit amount — usually sized to your estimated or recent usage — and the premium is 2% of the bond amount, $100 minimum; enter your amount in the calculator below for your exact price.
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Apply to filed in one sitting.
No underwriting queue for the standard utility deposit bond — enter your amount, pay, and file with Morristown Power. Here is the whole thing:
Apply online
Your account or business details, the deposit amount Morristown Power set, and the effective date — that is the entire application.
Issued on the spot
Most applicants have the bond generated as soon as they pay, no waiting. The application collects no credit information; if a check ever runs on a larger amount, it is a soft pull that never touches your score.
File with Morristown Power
Submit the executed bond to Morristown Power System in place of the cash deposit on your account. Wet-ink originals mailed whenever the utility insists.
What it is and who needs it.
What the utility deposit bond actually covers
Morristown Power System is the municipally owned electric utility and Tennessee Valley Authority (TVA) power distributor serving the City of Morristown and surrounding Hamblen County. Like other TVA distributors, it can require a security deposit before turning on power at a new address — generally sized to estimated or recent usage, and higher after a history of late payment. Rather than leave that cash sitting with the utility, Morristown Power accepts a surety bond for the same amount in place of the cash.
The bond is a payment guarantee in lieu of the cash deposit: it stands behind the electric charges on your account. If the account goes unpaid and the deposit would have covered it, Morristown Power can recover against the bond instead of drawing down a cash deposit.
It is not insurance for you — if the surety pays Morristown Power, you repay the surety. The advantage is cash flow: you pay a small premium — from $100 — rather than locking up the full deposit amount. Enter the figure Morristown Power set on your account notice and your exact price appears at the application.
You need this bond if you are
One application, issued on the spot.
Submit the application with the deposit amount Morristown Power set — the executed bond is generated instantly, ready to file in lieu of the cash deposit.
Start the application →Common questions.
Other Tennessee bonds.
Utility deposit bond, issued today.
Premiums from $100 — your exact price appears at the application. Enter the deposit Morristown Power set and file the same day.